We attempt to defend the species-as-individuals hypothesis by examining the logical role played by the binomials (e.g., "Homo sapiens," "Pinus ponderosa") in biological discourse about species. Those who contend that the binomials can be properly understood as functioning in biological theory as singular terms opt for an objectual account of species and view species as individuals. Those who contend that the binomials can in principle be eliminated from biological theory in favor of predicate expressions opt for a predicative account of species and view species as kinds. We contend that biologists' talk about species is talk about species as individuals, and we conclude that the most plausible account of species is an objectual account